Nutanix Analysts Raise Their Forecasts After Strong Results
Portfolio Pulse from Lisa Levin
Nutanix, Inc. (NASDAQ:NTNX) reported stronger-than-expected Q4 results and announced a $350 million share repurchase program. The company's Q4 revenue increased 28% YoY to $494.21 million, beating the consensus estimate of $475.16 million. Nutanix expects Q1 revenue of $495 million to $505 million, and full-year revenue between $2.085 billion and $2.115 billion. Following the earnings announcement, Keybanc, Needham, and JMP Securities revised their price targets on Nutanix.
September 01, 2023 | 1:20 pm
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Nutanix reported strong Q4 results and announced a share repurchase program, leading to a rise in its stock price and revised price targets from analysts.
Nutanix's strong Q4 results and share repurchase program announcement have led to a positive reaction in the market, with the company's stock price rising and analysts revising their price targets upwards. This indicates a positive short-term impact on the company's stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100